Loan Comparison: 3.28% vs 6.5%
2223 Pine, Pueblo, CO 81004 · 4bd/1ba · $212,000
List Price
$212,000
Assumable Rate
3.28%
Remaining Balance
$137,313
Equity Gap
$74,067
Loan Type
FHAAdjust Your Scenario
$10,600
$10,600$74,067
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.28% (FHA)
Blended Rate: 4.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,273/moAssumable @ 3.28% + gap loan
$1,088/moAssumed loan: $600/mo
Gap financing: $488/mo
$185less per month with the assumable
Your Savings on This Property
2223 Pine, Pueblo · 3.28% FHA vs 6.5% conventional
$185
per month
$2,221
per year
$66,643
over 30 years
$66,023
interest saved
How gap financing works: The equity gap ($74,067) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,600, 5% of purchase price) and a second mortgage for the rest ($63,467 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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